Oil Link to Saudi Stocks Strengthens as Economy Crude-Dependent - Bloomberg:
Saudi Arabian stocks and Brent crude are trading with the strongest link in 15 months as the increasing price of the commodity could lead to faster economic growth for the world’s biggest oil exporter.
The 120-day correlation between Brent crude and the Tadawul All Share Index is the most positive since July 2017, with oil prices and Saudi stocks moving in the same direction and reviving a pattern that has existed for most of the past two decades. For about eight months ended in March, the two went opposite ways as investors became more concerned with political headlines coming out of Riyadh than oil prices.
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